Connect with us

Hi, what are you looking for?

DOGE0.070.84%SOL19.370.72%USDC1.000.01%BNB287.900.44%AVAX15.990.06%XLM0.080.37%
USDT1.000%XRP0.392.6%BCH121.000.75%DOT5.710.16%ADA0.320.37%LTC85.290.38%
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Business

Business

What are the Best Cryptocurrencies to Buy in Now?

What Are The Best Cryptocurrencies To Buy In Now?
What the best crypto to buy now/Courtesy What the best crypto to buy now/Courtesy
What Are The Best Cryptocurrencies To Buy In Now?
What the best crypto to buy now/Courtesy What the best crypto to buy now/Courtesy

To cap off a big year in 2021, the crypto market has slowed a little, but it’s still heading into 2022 with a lot of excitement and momentum. In 2021, the big dogs like Bitcoin reached new highs, a slew of new cryptocurrencies with high potential emerged, and cryptocurrencies became more ingrained in the traditional financial system. Solana and Ethereum are two of the best cryptocurrencies to buy right now, according to two Motley Fool contributors. This is why.

While Bitcoin receives the majority of the attention, crypto enthusiasts recognize that Ethereum is the most technologically advanced blockchain available. The Ethereum network was used by anyone wanting to create decentralized apps (dApps). The Ethereum blockchain has a lot of power and value because of this developer network. Early adopters who are building their blockchains are hesitant to abandon Ethereum because it would take a significant amount of time and money to do so.

On the other hand, if you’re a startup developing blockchain-based software right now, there’s no way you’d choose Ethereum. Its technology is both slow and costly.

I believe that in the future, most developers will build on the Solana blockchain rather than Ethereum. It’s a no-brainer because of the difference in speed and cost. What would you consider while shopping for a car if you are a racer and would like to flex to your buddies? For me, I would go for a car with the highest speed and easy to maintain if it was on display. Would you rather pay $85 for a pair of pants or walk across the street to the next shop where it cost $10 less?

Solana’s technology outperforms Ethereum in terms of speed and cost. And the cryptocurrency markets have taken notice.

The crypto universe is currently in a massive state of flux due to the rise of the Solana blockchain. Many blockchains are attempting to improve Ethereum by making it faster and more cost-effective. (Ethereum is also attempting to fix Ethereum.) And Solana is up against a slew of rivals, including Avalanche and Cardano, which all claim to offer fast speeds and attempt to build their networks.

When there is a major technological disruption, it creates a lot of fear, uncertainty, and doubt. But, it also opens up a lot of possibilities. The most important takeaway for investors is that the king is in trouble. And it’s Solana’s tremendous speed and ultra-low-cost that’s causing all of this havoc.

This does not imply that Solana will be victorious. I have no idea who will come out on top in the end. Many investors prefer to use a basket strategy. If you’re buying cryptocurrency, make sure you have Solana in your wallet.

Finding stability in a market that may become more difficult

Bram Berkowitz (Ethereum): Ethereum, the second-largest cryptocurrency, now has around $450 billion market capitalization. Last year was significant for the network because it demonstrated how useful its smart contract capabilities are in the real world with non-fungible tokens (NFTs).

While Ethereum may not be able to achieve the same explosive gains as newer cryptocurrencies with smaller market caps in the future, I believe its notoriety and large market cap provide more stability, primarily because it is clearly here to stay. It may be prone to volatility, but I believe it is a good long-term investment. This is critical because 2022 may be a challenging year for cryptocurrencies. Like the tech and growth sectors, the crypto market has largely sold off in recent months as the Federal Reserve has indicated that it will accelerate the tapering of its bond-buying program and possibly raise interest rates three times in 2022.

Because of the Ethereum 2.0 upgrade currently in progress, Ethereum may prove to be a better inflation hedge. The network now burns a small portion of Ether tokens on every transaction it makes as part of its new gas fee model, which was completed in August following the completion of the London Hard Fork. As a result, the supply of Ether is now growing at a slower rate, and long-term projections show that once the Ethereum 2.0 upgrade is fully implemented, the supply could shrink by 2% annually. As a result, the currency is naturally more deflationary than before, putting it in a better position to hedge against inflation.

The significant system upgrade will also improve the network’s energy efficiency and process more transactions per second. Given its market cap and real-world application, I believe Ethereum will provide more long-term stability than most other cryptocurrencies. Since November, the price has dropped significantly; this could be a good time to buy.

In 2022, use caution when it comes to cryptocurrency

In the year 2022, there will be a plethora of excellent cryptocurrencies to consider. However, I believe you will have to be more selective with your picks as market conditions become more difficult, and liquidity becomes scarce as the Fed tightens. Ethereum and Solana are two of the best cryptocurrencies to invest in right now, in my opinion. But don’t take my word for it. Research before you invest and only invest what you are comfortable losing. 

Also read:


Comment Template

You May Also Like

Business

They book an Uber on the app like other passengers and get in the rear. The tone changes midway through the ride and they...

Business

Thursday’s US District Court for the Northern District of Texas judgment sets the timetable for a high-profile battle over Media Matters’ study on social...

Technology

OpenAI CEO Sam Altman met current and past executives, including Steve Wozniak, at Apple’s annual developer conference this week. Apple announced a long-rumored partnership...

Business

Samsung Electronics’ South Korean labor union reported numerous workers striking Friday, the first in the company’s 55-year history. After failed negotiations over salary and...

Notice: The Biznob uses cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our Cookie Policy.

Ok